Betfred staff across West Midlands face uncertain future as gambling firm plans 132 store closures
The company has blamed higher taxes and economic uncertainty for the cuts
Staff at Betfred stores across the West Midlands face an uncertain future amid news the betting firm plans to shut 132 shops and cut more than 600 jobs across the UK.
The national gambling business said it has launched a consultation over the closure plans which are expected to affect more than a tenth of the firm’s betting shops.
The company has blamed higher taxes and economic uncertainty for the cuts, which are expected to leave Betfred with around 1,100 shops across the UK.
The business, which was founded by brothers Fred and Peter Done in 1967, has betting shops across the West Midlands including in Dudley, Sandwell, Wolverhampton, Walsall, and across Staffordshire and Shropshire.
Betfred has not yet confirmed which shops are under threat of closure.
Jo Whittaker, CEO of Betfred, said of the news: “It is with deep regret that we have today started a consultation with colleagues working in more than 130 of our shops regarding a proposal to close those locations.
“We have tried hard to protect all our sites and the colleagues who work in them, but the combined impact of higher employer National Insurance contributions, wage inflation, increases in gambling taxes and wider economic uncertainty has left us with no choice.
“These are well-run shops, staffed by dedicated colleagues, and it is incredibly hard to see any of them close, but the current fiscal and regulatory environment has made it impossible to keep trading all our shops. Our priority now is to support the colleagues affected, and to continue serving customers and communities across the rest of our estate.”
Rival gambling operators Paddy Power and William Hill have also closed dozens of stores over the last year.
William Hill and 888 owner Evoke said in January that it moved “quickly and decisively” to offset budget changes to gambling taxes through shop closures and cost cutting; and last October Paddy Power confirmed plans to shut 57 betting shops across the UK and Ireland, putting 250 workers at risk.
Gambling businesses have been battling to navigate the economic landscape following tax increases imposed by the previous chancellor.
Measures announced in the last autumn budget put up remote gaming duty from 21 per cent to 40 per cent. From 2027 there will also be a new online sports betting duty of 25 per cent, which will cover all sports except horse racing.